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Gold surges more than 2% hitting 7-year highs
Investors are rushing to buy the safe haven yellow metal after rising fears over the spread of the coronavirus epidemic triggered panic sell-offs on Asian and European markets.
The price of gold surged more than two percent on Monday, hitting record levels since February 2013. Gold for April delivery on Comex reached $1,691.7 per troy ounce before slightly falling back later in the session. Meanwhile, spot gold was also up around 2.5 percent.
Silver prices also posted gains on Monday, with contracts for March rising 1.7 percent to $18.84 per ounce.
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